Boosted by strong sales of the Curry One and its Jordan Spieth-endorsed golf line, Under Armour saw revenues increase 29% to $783,577,000 from $609,654,000 for the three months ended Jun. 30. Earnings dropped 17% to $14,766,000 from $17,690,000 on a seasonally small quarter that was hit by lower gross margins and acquisition-related costs and investment in the connected fitness segment that resulted in a loss from this venture of $16.1 million this year against a loss of $4.8 million last year. The stock surged $6.50 on very heavy trading to reach $96 on the news.
The apparel business showed no signs ... Log in to view full article.